BP Domestic and Global Essay Example | Topics and Well Written Essays - 500 words

BP Domestic and Global - Essay Example BP needs to be strategic. A scenario where by there is a plan of action that channels an organization’s resources so that it can effectively differentiate itself from competitors and accomplish unique and viable goals. Strategies are organized based on the organization’s strength and weakness relative to the competition and assessing opportunities. This can be done by reducing risk. Though no business can prosper without taking risks, it is necessary to take a calculated risk so that the risk itself is managed. The company social investment can be too increased.There should a tangible demonstration of companies’ corporate citizenship philosophy. For example, Indonesian government and BP have embarked on a major initiative to develop one of the major gas fields on a partnership basis. Extracted gas is converted into liquefied natural gas (LNG) for export to global market. The firm is located in mangrove ecosystem of about 300000 hectares of land which support appr oximately 300000 households and can create conflict. To avoid this conflict, 70% of post tax revenue from the project is returned to the community improving infrastructure and government services aimed at providing lasting socio-economic benefit. Indonesia government, BP, and UNDP formulated Diversified Growth Strategy (DGS) for the community and affected project area. They have also placed special emphasis on linking Millennium Development Goal MDG1 poverty reduction and MDG7 protection of the environment (Tims, 2007).